In today’s current economy, it’s easier than ever to start a small business. As such, many people are opening small businesses with excellent results. Are you looking to launch your own small business? If so, you’ve come to the right place. Today, we’re going to look at the top six U.S. cities to move to for entrepreneurs.
Before we get in, here is a bit of the methodology we’ll use to determine the best U.S. cities for entrepreneurs. Here are a few of the factors we’ll take into consideration:
- Small business success rate in the city.
- We will also take into consideration the population of each city.
- We will look at cost of living, to determine how cost effective it is to open up a business.
- We will look at the state and city regulations for small business owners.
Located in Northeast Florida, Jacksonville is quickly budding into an excellent city for entrepreneurs. Jacksonville was recently ranked within the top five fastest growing cities in America. This recent economic success is largely because of the influx of new businesses, low home prices, and growth opportunity.
All of these factors culminate to make relocating to Jacksonville an excellent city for entrepreneurs.
San Francisco, California
Commonly known as Silicon Valley, San Francisco has experienced a wave of entrepreneurs. Over the past decade, San Francisco has seen a dramatic increase in tech startups; ranking as the best U.S. city for startups. Additionally, San Francisco has one of the highest average household income numbers in the U.S., at just over $96,000 annually. Before moving to this city, you should keep in mind the high cost of living. Homes sell for a whopping 1.7 million on average.
Oklahoma City, Oklahoma
Another major hub for entrepreneurs is Oklahoma City. This wonderful city boasts increased job wages, excellent infrastructure and a large population for entrepreneurs. Additionally, one of the draws to Oklahoma City is the low cost of living. As compared to other major cities, Oklahoma City real estate costs significantly less.
Raleigh, North Carolina
An up and coming leader in the entrepreneur market, Raleigh has plenty to offer for startups. A few of the primary attractions to Raleigh include: a rapidly growing population, excellent infrastructure, and relatively low cost of living. Most importantly for small business owners, Raleigh boasts a rapidly growing job market. With rising demands for goods and services in this city, many startups have achieved great success.
Similar to San Francisco, Seattle is a hub for entrepreneurs in the tech industry. However, this city boasts a diverse group of citizens, meaning there are entrepreneurial opportunities in a variety of fields. To top it all off, Seattle was rated as having the best wage growth throughout the United States. The only potential drawbacks that you should keep in mind is the cost of living. Seattle has a higher cost of living than most of the cities on this list.
Denver is an excellent area to start a small business. With a thriving local economy, Denver has experienced wage increases over the past several years. Additionally, Denver ranks as one of the most popular places to open a new business. With high startup success rates and excellent quality of life, Denver is a prime area for your startup.
Coming in first on our list is Austin, Texas. Austin is an excellent place for entrepreneurs because it offers so many excellent qualities. These include: low cost of living, a surging economy, growing population, and high startup success rates. With all of these benefits, what’s not to love?
There you have it, the top six U.S cities for entrepreneurs. If you’re pursuing opening your dream business, consider moving to one of these cities. Each of them has the economy, local growth, and resources that will help your business to grow.
This is a collaborative post.